45% of the ultra -rich show interest in crypto
45% of the ultra -rich show interest in crypto
- billionaires have expressed their interest in crypto investments despite the recent cryptocurrencies.
- A study by Goldman Sachs showed that 45 percent of family offices are willing to invest in crypto.
The enormous loss of Bitcoin, which has also led to the decline of a large part of the old coins in recent months, has given investors, but not with the ultra-rich, cause. Since most investors withdraw from cryptocurrencies, the ultra -rich are optimistic that digital coins are the future.
Bitcoin, the largest cryptocurrency after market capitalization, started the year positively. At the beginning of the year, Bitcoin recorded constant growth and reached new highs. However, BTC fell to energy consumption and environmental concerns in mid-April after a comment by Tesla CEO Elon Musk. Since then, Bitcoin has lost value for other reasons, which are mainly driven by FUD (fear, uncertainty and doubt). The crypto asset lost about $ 50 percent of its all-time high of almost $ 65,000 in mid-April. At the time of writing, the top coin Bitcoin increased by 4.29 percent and is traded for $ 32,162.
Study by Goldman Sachs shows an increased crypto interest in ultra-rich
Despite the decline, a study by Goldman Sachs showed that the crypto interest of Family Offices is increasing for the administration of the funds of billionaires. These family offices help manage the money of prominent names. Jack Ma by Ali Baba and Google co-founder Sergey Brin are also among the billionaires whose funds are managed by Family Offices. According to the Goldman Sachs report, at least 45 percent of family houses have an interest in crypto and are ready to invest in cryptocurrencies.
The crypto interest in family offices grows, although these companies normally invest the money of their customers in traditional and profitable investments. The classic investments that Family Offices rely on include, for example, real estate, private equity and investment funds. Regardless of this, the Goldman Sachs report showed that billionaires are gradually being attracted to the growth of cryptocurrencies.
According to the report, 15 percent of the family offices have already invested the funds of their customers in crypto. In addition, separate 45 percent are considering investing in the crypto area in the future. This means that 45 percent of the ultra-rich are interested in crypto investments. A bloomberg found that this Family Offices crypto as security for "higher inflation, persistently low interest rates and other macroeconomic developments after one year of unprecedented global monetary and fiscal incentives".
Partner & Global Co-Head of Private Wealth Management at Goldman Sachs, Meena Flynn, commented on the increasing interest of the ultra-rich in crypto. Goldman Sachs manager said that the billionaires move towards cryptocurrencies because they believe that crypto-assets are the future. Flynn said that the participants of the survey showed interest in the digital asset area. She added that several Family Offices want to discuss "blockchain and digital ledger technology". The executive continued about the conviction of some of the respondents that This technology will be as effective from an efficiency and productivity perspective as the Internet. Family Offices have increased due to the growing number of tech billionaires. According to the researcher Campden Wealth, the assets of Family Offices are estimated at almost $ 6 trillion worldwide. billionaire optimistically into the future of crypto
Source: Crypto-news-flash.com